Frigoglass-Yula Acquires Druzhba Glassworks

A consortium of Greek companies, Frioglass SA and Yula SA has reportedly acquired 51% of Bulgarian glassmaker Druzhba. Global Finance took a further 10% in the company. Reports say that the consortium paid US$20m for the stake, and has committed another US$50m in investment over the next five years. Plovdiv-based Druzhba is the country's largest glassmaker, witn annual output of 220,000 tonnes.